Thursday, March 8, 2012

What a wonderful headline. The futures are trading at $2.254 down another 2%.
From Barron's:

Even with fewer rigs put to work, excessive natural gas production
continues to weigh on the outlook for natural gas prices and the stocks
of explorers working in gas fields.

Natural gas futures for April are off 5 cents today, to $2.246 per
million British thermal units. There’s more optimism for next winter,
with futures for December 2012 and into 2013 above $3.00, according to
the Chicago Mercantile Exchange futures prices on the Web.

Alan Armstrong, CEO at Williams reiterated
at the IHS CERA energy conference this week that the U.S. is running
out of natural gas storage, which is at a record for this time of year
due to the surge in production and warm weather weakening demand. He
expects more production to get shut in, and that could mean lower
profits for gas producers....MORE